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By LeAnn R. Ralph
ELK MOUND — Electors in the Elk Mound school district set a projected property tax levy for the 2019-2020 school year of $3,223,102 at the annual meeting August 26.
Three numbers that are currently unknown could have an impact on the final property tax levy: enrollment for the 2019-2020 school year; the amount of state aid the district will receive; and the amount of the property value in the district, said Eric Wright, school district administrator.
The exact amount of the property tax levy may have to be adjusted by the Elk Mound Board of Education in October after the third Friday in September enrollment count is completed and after the school district finds out how much state aid will be received and knows the exact amount of the property value in the school district.
The projected property tax levy of $3,223,102 represents an increase of $210,694 over the 2018-2019 property tax levy.
The proposed general fund expenditure budget for 2019-2020 is $13,361,600, which represents a 4.6 percent increase over the 2018-2019 general fund budget of $12,776,233.
The equalized property value in the district for 2018-2019 was $364.85 million.
The estimated value of the property in the school district for 2019-2020 is $390.39 million.
The projected mill rate for 2019-2020 is $8.26 per $1,000 of property value and is essentially the same mill rate assessed to property tax payers for the 2018-2019 school year.
The projected mill rate is expected to result in four cents less in property taxes per $100,000 for 2019-2020 at $825.62 compared to $825.66 for 2018-2019.